Trump calls out Bank of America, Chase for debanking conservatives. Are

Donald Trump:

“What you’re doing is wrong.”

Simone Del Rosario:

Bank of America’s CEO wasn’t expecting that.

Brian Moynihan asked President Donald Trump about how he plans to sustain economic growth during a Q&A portion at the World Economic Forum.

Trump took the opportunity to bring conservatives’ claims of debanking to the CEOs of the world’s largest banks. It’s an accusation the banks have repeatedly denied.

Donald Trump:

“Speakig of you, you’ve done a fantastic job, but I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America, this conservative they don’t take conservative business. And I don’t know if the regular mandate of that because of Biden or what but you and Jamie and everybody I hope you’re going to open your banks to conservatives because what you’re doing is wrong.”

Simone Del Rosario:

The Jamie in question is of course JPMorgan Chase CEO Jamie Dimon. He was not part of the panel. For his part, Moynihan didn’t react to Trump’s claims, but he did deflect.

BRIAN MOYNIHAN:

Mr. President, I’ll say that your friend Gianni said hello, told me tell you hello and we look forward to sponsoring the World Cup when it comes both this summer for the club and next year so thank you for getting that for the United States.

Simone Del Rosario:

In a statement to Straight Arrow News, Bank of America says political ideology has no bearing on its customer decisions.

“We serve more than 70 million clients and we welcome conservatives. We are required to follow extensive government rules and regulations that sometimes result in decisions to exit client relationships. We never close accounts for political reasons and don’t have a political litmus test,” B of A told SAN in an email.

Conservatives claim big banks have debanked them for years. And the allegations gained widespread attention after billionaire engineer and venture capitalist Marc Andreessen talked about it on the “Joe Rogan Experience.”

Marc Andreessen:

This is where the government and the companies get intertwined. Back to your fascism point, which is there’s no there’s a constitutional amendment that says the government can’t restrict your speech, but there’s no kind constitutional amendment that says the government can’t de bank you, right? And so they, if they can’t do the one thing, they do the other thing, and then they don’t have to debank you. They just have to put pressure on the private company banks to do it. And then the private company banks do it because they’re expected to, but the government gets to say, we didn’t do it. It was the private company that did it. And of course, JP Morgan can decide who they want to have as customers.
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And so a lot of this started about 15 years ago with this thing called Operation choke point, where they…